The Audition to Live allows all traders showcase their skills and earn a Sim Funded account. Traders must first pass an evaluation before earning a SimFunded account. SimFunded accounts are able to receive payouts every 5 trading days. All stages of ATL accounts boast a 6% account drawdown.
Plan Costs
ATL plans are one-time fee only. Plans have 30 days to qualify for simFunding. If an account does not reach the targets within 30 days, the account will be closed. There are NO activation fees for SimFunded accounts.
Consistency
The key to long term success is consistency. ATL plans are designed to provide traders access to payouts by showing consistent trading. The evaluation stage has a 50% consistency requirement allowing traders to move to a SimFunded account in as little as 2 days.
All ATL simFunded plans have a payout consistency goal of 35% during this simulated funded phase. This means that a single day cannot be more than 35% of the total profits in a payout period.
Traders cannot withdrawal if their consistency is greater than 35%. Going above 35% is not a violation. If your account is above 35%, you will have to continue trading to bring the accout consistency into range to request a payout.
Contract Scaling
ATL accounts start with a base number of contracts based on the account size. Accounts will gain access to more contracts as the balance increases. This is a rough representation of how margin will work in a Live account as well as helping traders build their account through A+ trade setups.
- $30K – Below $1000 profit = 1mini/10micro; Above $1000 profit = 2mini/20micro
- $50K – Below $1500 profit = 3mini/30micro; Above $1500 profit = 5mini/50micro
- $100K – Below $1500 profit = 3mini/30micro; Above $1500, below $3500 = 5mini/50micro; Above $3500 = 7mini/70micro
Maximum Loss Limit (MLL)
All plans start with a MAB of 6% the starting balance. This balance is given to allow traders flexibility to meet consistency targets on a daily basis. IFA plans have an End-of-Day (EOD) trailing through the first payout. After the first payout, the MLL becomes fixed and will never trail the account balance.
Each ATL uses an EOD trailing until the the account balance reaches the profit target.
To repeat another way, the MLL will stop EOD trailing once the MLL reaches the starting account balance and stays there for the remainder of all payouts.
Daily Loss Limit (DLL)
All plans have a Daily Loss Limit (DLL) of 3% based off the Start of Day balance. The DLL is a hard violation and will cause account failure. This means traders need to manage their risk to ensure staying above the DLL. Your DLL will increase each day as your account balance grows. This allows for more trading freedom each day.
Minimum Profit Days (MPD)
There is a minimum profit goal of 0.5% of the account balance for 5 days in order to qualify for a payout. Days do not have to be consecutive, only a total of 5 MPD which are recorded and displayed on your dashboard.
Payouts
ATL accounts can request up to 3 simFunded payouts before moving to Live. Traders can request 50% of their profit goal each payout. When a trader requests a payout, a percentage will be moved to their SimWallet account balance with the remainder being paid out. This balance is known as a traders Live Wallet. Payouts can be requested with the following requirements:
- Minimum 6 trading days
- Five Minimum Profit Days
- Reach Profit Target
- Maintain less than 35% consistency
Payout to wallet ratios are as follows:
- Payout 1: 60% payout, 40% SimWallet
- Payout 2: 65% payout, 35% SimWallet
- Payout 3: 70% payout, 30% SimWallet
Number of Accounts
Traders can only have 2 ATL plan at any one time.
*You cannot have both ATL and IFA plans. Only trade either IFA or ATL.
Trading Hours
All positions must be closed by 4:15pm EST. Trading can start again at 6pm EST. This does not include holidays where the markets may close early or for a full day.
News Trading
Trades are not allowed 2 minutes before and after Tier 1 news events such as but not limited to NFP, CPI, FOMC minutes and rate decisions. Having a trade open during a Tier 1 news event will result in account closure.
